Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay

[nitroz]

Hostess Blames Union For Bankruptcy After Tripling CEO's Pay | ThinkProgress

Today, Hostess Brands inc. — the company famed for its sickly sweet desert snacks like Twinkies and Sno Balls — announced they’d be shuttering after more than eighty years of production.

But while headlines have been quick to blame unions for the downfall of the company there’s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent.

At the time, creditors warned that the decision signaled an attempt to “sidestep” bankruptcy rules, potentially as a means for trying to keep the executive at a failing company. The Confectionery, Tobacco Workers & Grain Millers International Union pointed this out in their written reaction to the news that the business is closing:

BCTGM members are well aware that as the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.

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[brawny1]

Well, one thing for sure, 18,000 employees are dependant on your tax dollar.

 

[nitroz]

Well, one thing for sure, 18,000 employees are dependant on your tax dollar.

After the CEO and Management's fuckup and pay increase for themselves.

 

[SniperFire]

They should have been paid much, much more to deal with such union filth.

 

[BallsBrunswick]

It's hitting Seattle pretty hard as Hostess had a large factory here. Not sure really what to think about this.

 

[nitroz]

They should have been paid much, much more to deal with such union filth.

Yeah. First amendment rights are such a bad thing.

 

[CrusaderFrank]

He should have fired all the union workers

 

[brawny1]

Just out of curiosity Nitroz, how much are the union BA's and OR's making? Can you post some figures for showing what they suck off employees?

 

[nitroz]

Just out of curiosity Nitroz, how much are the union BA's and OR's making? Can you post some figures for showing what they suck off employees?

none of it is online. if you find it, please be my guest and post it.

 

[BallsBrunswick]

Why the strong hate for Unions? I have some pretty negative feelings about Unions as well. But theoretically they're good things.

 

[nitroz]

Why the strong hate for Unions? I have some pretty negative feelings about Unions as well. But theoretically they're good things.

until they protect the wrong people and create room for abuse

 

[SniperFire]

They should have been paid much, much more to deal with such union filth.

Yeah. First amendment rights are such a bad thing.

Quite ironic from the guy starting a thread whining about a business exercising their right to pursue happiness.

 

[BallsBrunswick]

Why the strong hate for Unions? I have some pretty negative feelings about Unions as well. But theoretically they're good things.

until they protect the wrong people and create room for abuse

Yeah, I agree. Like I said I have a strong mistrust of unions and a lot of personal reasons for not liking them. But at the same time the unions involved with Boeing have been a god send for this area. A lot of the working class have very decent lives because of what their unions have fought for. Same with a lot of members of my family. I have mixed feelings about unions.

 

[Rozman]

It's hitting Seattle pretty hard as Hostess had a large factory here. Not sure really what to think about this.

Unions could have agreed to cuts in wages and benefits and kept
the company in business and would have still had a job.

But they chose this...

Can't blame them I guess....
This way they get on the Obama gravy train and get
2 years of UE insurance.Probably get that Obama care to kick in.
Then there's the food stamps and free cell phone.

Hey what's not to like.

And they get to stay home and curse at the republican rich fucks who are supporting
them...

 

[nitroz]

They should have been paid much, much more to deal with such union filth.

Yeah. First amendment rights are such a bad thing.

Quite ironic from the guy starting a thread whining about a business exercising their right to pursue happiness.

Corporations are not people, they are inanimate objects. They are a legal body on a piece of paper. Therefore, they do not apply to the constitutional bill of rights.



And to fire people in attempt to make an excuse about obamacare is just low. Especially when it will only cost a few million compared to the $22 million worth in free pizzas that they will give away willy nilly.

 

[nitroz]

It's hitting Seattle pretty hard as Hostess had a large factory here. Not sure really what to think about this.

Unions could have agreed to cuts in wages and benefits and kept
the company in business and would have still had a job.

But they chose this...

Can't blame them I guess....
This way they get on the Obama gravy train and get
2 years of UE insurance.Probably get that Obama care to kick in.
Then there's the food stamps and free cell phone.

Hey what's not to like.

And they get to stay home and curse at the republican rich fucks who are supporting
them...

Technically that union shot themselves in the foot.

They should have thought ahead before taking action.

 

[SniperFire]

Yeah. First amendment rights are such a bad thing.

Quite ironic from the guy starting a thread whining about a business exercising their right to pursue happiness.

Corporations are not people, they are inanimate objects. They are a legal body on a piece of paper. Therefore, they do not apply to the constitutional bill of rights.



And to fire people in attempt to make an excuse about obamacare is just low. Especially when it will only cost a few million compared to the $22 million worth in free pizzas that they will give away willy nilly.

Such a claim was not made. Ever hear of a strawman argument?

 

[nitroz]

Quite ironic from the guy starting a thread whining about a business exercising their right to pursue happiness.

Corporations are not people, they are inanimate objects. They are a legal body on a piece of paper. Therefore, they do not apply to the constitutional bill of rights.



And to fire people in attempt to make an excuse about obamacare is just low. Especially when it will only cost a few million compared to the $22 million worth in free pizzas that they will give away willy nilly.

Such a claim was not made. Ever hear of a strawman argument?

Such a claim was made and has been passed in the State of Montana.

Soon, it will gain backing and ground as that amendment moves to other states aswell.

 

[CrusaderFrank]

Why the strong hate for Unions? I have some pretty negative feelings about Unions as well. But theoretically they're good things.

Detroit comes to mind

 

[SniperFire]

Corporations are not people, they are inanimate objects. They are a legal body on a piece of paper. Therefore, they do not apply to the constitutional bill of rights.



And to fire people in attempt to make an excuse about obamacare is just low. Especially when it will only cost a few million compared to the $22 million worth in free pizzas that they will give away willy nilly.

Such a claim was not made. Ever hear of a strawman argument?

Such a claim was made and has been passed in the State of Montana.

Soon, it will gain backing and ground as that amendment moves to other states aswell.

You are mindless spinning off topic.

You rather suck at this.